Congress Asset Management Co. Buys 19,034 Shares of Primoris Services Corporation $PRIM

Congress Asset Management Co. raised its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 815,270 shares of the company’s stock after purchasing an additional 19,034 shares during the quarter. Congress Asset Management Co.’s holdings in Primoris Services were worth $101,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SBI Securities Co. Ltd. increased its holdings in shares of Primoris Services by 224.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after buying an additional 148 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Primoris Services during the 2nd quarter worth $34,000. Blue Bell Private Wealth Management LLC purchased a new position in Primoris Services in the third quarter worth $37,000. Cullen Frost Bankers Inc. purchased a new position in Primoris Services in the third quarter worth $37,000. Finally, McIlrath & Eck LLC increased its stake in Primoris Services by 109.8% in the third quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock valued at $38,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Analysts Set New Price Targets

PRIM has been the topic of a number of research reports. DA Davidson set a $180.00 price target on Primoris Services in a research report on Wednesday, February 25th. Guggenheim increased their price objective on Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Mizuho raised their price objective on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Zacks Research lowered Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $153.20.

Primoris Services Stock Performance

Shares of PRIM stock opened at $142.67 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a fifty-two week low of $49.10 and a fifty-two week high of $174.43. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 28.36 and a beta of 1.36. The stock has a 50 day simple moving average of $149.56.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s payout ratio is presently 6.36%.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.